Is a condo right for you?
Is a condo right for you? Most often when looking for a new home, people tend to focus on single-family homes, but condos come with many unique advantages!
Condos have many appealing aspects, but one of the top reasons’ buyers have for seeking out these developments is location. Compared to single-family homes, condos are typically located in convenient, centralized locations. This gives their residents nearby access to restaurants, shopping and entertainment.
Condos often have HOAs which are responsible for managing the grounds as well as common areas. While an HOA is an added cost each month, they are essential in retaining value for the development and allows you to spend your weekend doing something other than mowing the lawn.
While not always the case, it has become more common in recent years for condos to offer great community amenities. These can include pools, gyms or outdoor recreation areas. Not only do these amenities save money you would typically spend towards things like gym memberships, but they also expand your day-to-day living space.
Condos have great rental value. They’re low maintenance and have proximity to urban areas, making them ideal for renters looking for something close and convenient.
At the end of the day, there are many pros and cons when it comes to purchasing a condo versus a single-family home. Whatever property you find yourself in, be sure you’re protecting it with the right insurance coverage. If you are in the market for Condo Insurance head on over to our Products page today and read all about our available condo policies.Go Back